“Lawmakers committed to keeping graduates in Maine so they can fully participate in Maine’s economy should override the governor’s veto of the Student Loan Bill of Rights. Student borrowers and their parents and grandparents who cosign loans need protection against student loan servicers who profit from dirty business practices.”
– Jody Harris, MECEP’s Associate Director.

What is the bill

This bill would have established a Student Loan Bill of Rights aimed at preventing loan companies from taking advantage of students and increasing oversight in an under-regulated economy that has resulted in a massive ballooning of student debt.

Why it matters

Students shouldn’t be saddled with debt for working to obtain an education. It’s holding too many people back, widening inequality, and stalling our economy as a whole. This bill would have brought a sharper eye to the loan industry, which has used predatory practices and taken advantage of loose regulations to put extreme conditions on thousands of Maine students (14th heaviest debt burden in the country).

What happened

DEAD: This bill was vetoed by Governor LePage and the veto was sustained.